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Indicators: MTF Fractal

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MetaQuotes Software Corp.
Moderator
182645
MetaQuotes Software Corp.  

MTF Fractal:

Multi timeframe fractal indicator which shows the higher timeframe's fractal point on lower timeframes.

MTF Fractal

Author: Krisztian Kenedi

MQL4 Comments
16319
MQL4 Comments  

wow, very nice indicator, and funny as I was just browsing but exactly what I'm looking for! (and thinking about!)

have not tested yet, but rate 10/10

Roberto Jacobs
47220
Roberto Jacobs  

Hello styan,

This is a very good indicator Fractals, I did not see before.
Can I use your code trick to combine with my formula in my next EA?

Thanks for sharing this indicator.

Krisztian Kenedi
452
Krisztian Kenedi  
3rjf4:

Hello styan,

This is a very good indicator Fractals, I did not see before.
Can I use your code trick to combine with my formula in my next EA?

Thanks for sharing this indicator.

Hello,

Of course you can "reuse" it.

Michael Ogbonnaya
570
Michael Ogbonnaya  

Hi,

Can this indicator effectively mark the Highs and Lows in the chart?

Krisztian Kenedi
452
Krisztian Kenedi  
odomike:

Hi,

Can this indicator effectively mark the Highs and Lows in the chart?

Hello,

I don't understand exactly. The fractal point shows the higher high or lower low if the previous 2 and the next 2 candle can't make higher high or lower low. Maybe it's a good description.

It's a basic tool in the MetaTrader (and other platforms) but my code works in Multi Timeframe and has two "nice" extra feature...

Michael Ogbonnaya
570
Michael Ogbonnaya  
styan:
odomike:

Hi,

Can this indicator effectively mark the Highs and Lows in the chart?

Hello,

I don't understand exactly. The fractal point shows the higher high or lower low if the previous 2 and the next 2 candle can't make higher high or lower low. Maybe it's a good description.

It's a basic tool in the MetaTrader (and other platforms) but my code works in Multi Timeframe and has two "nice" extra feature...


Ok I think that I understand what you meant. Does the MTF Fractal repaint during a live trade?
Krisztian Kenedi
452
Krisztian Kenedi  
odomike:
styan:
odomike:

Hi,

Can this indicator effectively mark the Highs and Lows in the chart?

Hello,

I don't understand exactly. The fractal point shows the higher high or lower low if the previous 2 and the next 2 candle can't make higher high or lower low. Maybe it's a good description.

It's a basic tool in the MetaTrader (and other platforms) but my code works in Multi Timeframe and has two "nice" extra feature...


Ok I think that I understand what you meant. Does the MTF Fractal repaint during a live trade?
Of course draws in real-time but the repainting is different than the drawing. The repaint-indicators are use the "data from the future" (it's cheating), that's why these indicators have poor performances in forward tests.
bacoazul
10
bacoazul  

Hello styan,

I really like your indicator, but i have a little problem with the custom TF, lets say i put the 4H fractals ona 5M chart, when it draws the lines it stops on any 5M closed over/below the line and it should stop on a 4H closed over/below the line,

another thing is that the indicator coun max bars onthe actual TF instead of counting the bars of the custom TF,ty

Krisztian Kenedi
452
Krisztian Kenedi  
bacoazul:

Hello styan,

I really like your indicator, but i have a little problem with the custom TF, lets say i put the 4H fractals ona 5M chart, when it draws the lines it stops on any 5M closed over/below the line and it should stop on a 4H closed over/below the line,

another thing is that the indicator coun max bars onthe actual TF instead of counting the bars of the custom TF,ty

Thanks, but it's not a problem, this is the normal operation :) As I described: "The “Extend_Line” function draws a horizontal line from the previous fractal point until a candle closes it over." If the indicator doesn't cut the lines where a candle close over than we can see too much lines moreover in the most case the S/R levels are valid until not broken.

We have to use the maxbar for the actual timeframe because the calculation based on the main timeframe and this way is the easiest to keep under control it.

MQL4 Comments
16319
MQL4 Comments  

Nice, ive got some great ideas for this bad boy :)


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